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Arkansas – Good Faith Rejection of Financing Statements

House Bill 1463 (Act 707) signed by the governor April 4 and effective 91 days after adjournment (projected as May 10) allows a filing official acting in good faith with reason to believe that a financing statement is filed for a fraudulent purpose, to promote or conduct an illegitimate object or purpose, or for the purpose of defrauding or harassing a person or entity, to refuse the filing.